A racing success story that began in 1994 has come to an end after almost 30 years.
The Economic Security partnership is to be disbanded.
The decision followed the enforced retirement of Tommy Tracey, who was pulled up at Huntingdon after the failure of a second wind operation.
The leader and co-founder of the partnership, Sir Ian Magee, subsequently announced he would be stepping down from the role because of ill health.
Members of the partnership later agreed unanimously that the time had come for the partnership to be wound up.
Nobody knows for sure, but it seems unlikely there is – or perhaps ever has been – a partnership of greater longevity.
Over the years, Economic Security owned 15 horses, competed in 144 races and celebrated 15 winners, earning £114,000 in win and place prize money. The membership evolved over the years, but Ian Magee was ever present, the driving force and the inspiration, characteristically reluctant to accept that he brought so much enjoyment to so many jump racing enthusiasts for so long.
All but one of Economic Security’s horses were trained by Paul Webber (himself a partner) at Cropredy Lawn near Banbury. Paul’s openness, professionalism and unfailing generosity were the key to the success of the enterprise.
Inevitably, there were ups and downs of the kind all long-standing racehorse owners come to expect.
The high spot undoubtedly came in March 2020 when House Island, by far the best animal the partnership ever bought, took his owners to an unforgettable day at the Cheltenham Festival where he ran a more than respectable race in the Grade 1 Albert Bartlett Novices Hurdle.
The low point came the following year when House Island was killed in a freak accident at home.
But Economic Security was about more than just the racing. Enduring friendships were formed. Social events were frequent, most notably an annual dinner on the eve of Cheltenham featuring a keenly-fought tipping competition. The sense of regret that is bound to accompany the end of an era is alleviated by a feeling of achievement. Economic Security began as an adventure, it flourished to an extent that could not possibly have been predicted and, by common consent, it was great while it lasted.
In a note to partners, Paul Webber said: "It has been a complete pleasure to have trained for ESP for twenty seven years. Your leadership of this group, Ian, has been immaculate, unstinting, so organised and full of encouragement.
"Myself, Ku and I must also mention Fe, have always so enjoyed your visits, the dinners, days at the races whatever the result and great company every time we have gathered together. These occasions and our glasses have always overflowed with enjoyment, humour and stoic determination to cope with all racing tends to throw at us.
"Of course we are sad, but cheered by knowing we have done our best, hopefully not let too many people down and gained great friends." (31st January)
PETER MAGEE WINS CHELTENHAM TIPPING COMPETITION
Undaunted by the disbanding of Economic Security, partners decided that the annual Cheltenham Festival tipping competition should go ahead as usual.
The competition was won by Peter Magee, his first success since 2007 when he shared the title with Dave Mottram.
Peter finished with a total of 170 points, 15 ahead of Catherine Griffiths who'd led the field for the first three days.
Ian Magee and Paul Bowden shared third place.
(17th March)
ECONOMIC SECURITY: MEMORIES OF A RACING SUCCESS STORY
Economic Security partners and former partners are to share memories of the highs and lows associated with membership of an adventure in racehorse ownership that, by common consent, was a racing success story.
A new page 'Memories' has been opened on this website to house a collection of their reflections at : www.economicsecurity.co.uk/memories.html
To launch the collection, co-founder David Metcalf has written his own perspective on the Economic Security experience, including an appreciation of the outstanding leadership provided throughout the life of the partnership by his friend and fellow veteran, Ian Magee. (15th February)
CRYSTAL MER SECOND AT DONCASTER
The 4-year-old Crystal Mer, an encouraging fifth in a listed bumper at Cheltenham on New Year's Day, went three places better when second on his return to action at Doncaster.
The race was a maiden bumper over an extended two miles. There were eight runners, the going was good and Rex Dingle was on board.
Crystal Mer was held up before being asked for an effort half a mile out. Despite hanging left, he took second place a furlong from home and ran on strongly to be beaten two lengths at 9/2.
The Racing Post said: "Crystal Mer backed up the improvement he'd shown in a Listed event at Cheltenham 75 days earlier. He's bred for the Flat and not sure to stay much further than 2m if given a chance over hurdles." (17th March)
CHELTENHAM FESTIVAL WINNER INDEFATIGABLE RETIRES
The Cheltenham Festival winning mare Indefatigable has been retired from racing at the age of 10.
Trainer Paul Webber issued the following statement:
"Our very special mare Indefatigable has retired from racing. She finishes her career completely sound, happy, fresh and well but as a 10-year old, it is time for her brood mare career to begin.
"She has given tremendous thrills to her owners, the Rocher family and to all of us at Paul Webber Racing, Everyone just adores her and will be so sad to see her depart.
"It is so fitting that she will be boarding with John O’Connor at Ballykelly Stud near Cashel, who bred and raced her before asking me to find a partner to race her in England. The plan is for her to be covered by super sire, Walk In The Park, the fabulous Coolmore NH stallion standing at Castle Hyde Stud. We cannot wait to see her foals.
"Thank you “Mary” for all you’ve done for us."
Indefatigable, owned by Economic Security's Philip Rocher, ran 31 times between 2018 and 2023, winning a bumper, five races over hurdles and a flat race. She earned a total of £196,000 in prize money.
The highlight of her career was in March 2020 when she came from a long way back to win the Martin Pipe at the Cheltenham Festival by a short head at 25/1. The victory was a first Festival success for her trainer. (28th February)
WEBBER'S WINNERS
Click here for a log of the winners sent out from Cropredy Lawn in the current National Hunt season. Forthcoming entries can be found here.